Q3FY21: Power Grid profit rises 26% at Rs 3,368 crore

  • Power Grid has posted strong Q3FY21 results mainly on the back of higher revenues

  • Maharatna Power PSU's Q3 profit up 26 pc at Rs 3,368 cr

New Delhi: Power Grid Corporation of India Limited (Power Grid) has posted Profit After Tax and Total Income of Rs 3,368 crore and Rs 10,359 crore respectively for Q3FY21, registering an increase of about 26 percent and 9 percent respectively with respect to the corresponding period of FY20. The Maharatna power PSU has posted Profit After Tax and total income for the nine months ended December 31, 2020, on a standalone basis as Rs 8,420 crore and Rs 29,822 crore respectively, which are about 10 percent and 7 percent higher with respect to CPLY.

Power Grid has posted these strong Q3FY21 numbers mainly on the back of higher revenues. Power Grid is mainly engaged in the business of transmission of electricity. The company has said in a statement that there has been no material impact of the pandemic on the operations of the group during April to December period of this fiscal year.

On a consolidated basis, the Profit After Tax and total income is Rs 8,510 crore and Rs 30,007 crore are respectively, registering a growth of 10 percent and 7 percent respectively with respect to the corresponding period of FY'20.

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The Company has posted Profit After Tax of Rs 3,324 crore and Total Income of Rs 10,311 crore for Q3FY21 on a standalone basis, registering an increase of about 24 percent 9 percent respectively with respect to the corresponding period of FY20.

Power Grid’s physical assets (including subsidiaries) include 1,68,000 km of transmission lines, 253 substations with transformation capacity of about 4,25,000 MVA. During the year, with the use of state-of-the-art maintenance techniques, automation and digitization, Power Grid maintained average transmission system availability of 99.80 percent up to Dec 31, 2020.

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